The Virtual Wire

Positive and negative mindsets

I am not sure about the purpose of this article, but I just wanted to talk about the strength of negative or positive mindsets.

I interviewed with a client recently who wanted someone to manage her radio show and social networks.  She said to me more than once in the interview that these avenues “do not make money for me” and that if she spent time doing them she would have to allot herself time in her schedule as if she was her own client, and “she wasn’t prepared to do that.”  Now I am not saying that either of these statements are wrong, but it is the approach and the mindset that sounds off.  

For instance social networking activities are supposed to eventually increase revenue, so although they don’t make money now it is an investment that reaps rewards down the line.  Maybe she was partly thinking that, which is why she wanted a VA, but that is not what she said!  Also I agree that she should not be doing this work because she should be working with her clients, but to say that she is “not prepared to treat herself as a client,” again illustrates that she is in the wrong mindset.  

I remember coming away from this conversation thinking that she would struggle to get success with her social networking because of her mindset and subsequent energy that she was putting towards it.  I would confidently say that her mindset needs to change, wouldn’t you?

Suffering from social networking overwhelm?

I've found a great blog article, and want to share it with you today.  Its title says it all:  "How to Manage Your Time with Social Networks."  

I've come across many "experts" advising me how to use the various networking sites.  In fact, I'm tiring of their advice. 

This post from Meryl.net, however, hit the mark for me with her short list of tips and solid, practical concepts.

My favorite tip is her first one: "Tell yourself that no one can keep up with it all."  (I guess I simply needed the reminder.)

And ... I appreciate her summary:

"Don’t let social networking overwhelm you. You’re the boss of your time and very few can be all over the place on a regular basis. Instead, take a step back and prioritize. Having a profile is better than nothing. Besides, you can point to where people can find you."

I've been re-thinking and rearranging work schedules and commitments in my own business and daily  activities -- a type of life management exercise.  It's a skill that continually needs attention, I've found. Determining what is most valuable and understanding then what can be left out is not necessarily easy.  It is, though, critical - avoiding overwhelm can be achieved! 

What have you found that helps?

The Fortune Is In The Follow-Up

In the course of everyday life, we are constantly meeting people that we can connect to each other.  Perhaps a girlfriend you had lunch with last week is looking for a new gardener.  Or one of your Virtual Assistant colleagues is in need of a recommendation for a Graphic Designer to build her new website.  Or, you meet a prospective client who seems to be ideal for you and is interested in learning more about your services.

How good are your follow-up skills?  Do you make the connections you promise to make?  Do you get back in touch with folks when you say you’re going to?  And most importantly, do you have a system to make sure that all of your necessary follow-ups get handled in a timely manner?

If not, it’s OK.  This is an easy problem to fix and the benefits are priceless.  It is really great for you to be known in your online and offline communities as a connector.  Connectors become the “go to” solutions for all sorts of problems and you’ll find that you get to meet lots of interesting people along the way.  While you personally won’t have the answer to each person’s problem, having a wide network of resources to refer to positions you as a generous, valuable resource in the eyes of everyone you meet.  And you’ll be pleasantly surprised at the amount of referrals that come back to you, because you are constantly referring to others.

So the next time you attend a networking event and collect business cards of people you want to stay in touch with, promise to connect a friend to a resource or meet a prospective client who is perfect for you, commit to follow-up with those individuals within 24 hours.  Keep a stack of simple, high-quality note cards with you so that you can follow-up with folks via good old fashioned snail mail.  Or send a quick email to introduce the two people you want to connect.  You can also follow-up with a quick phone call.  Whichever method works best for you is fine, but be sure to schedule a few minutes out of your day to keep your promise in this regard.  

I’d love to hear your favorite follow-up tips!  Do tell by leaving a comment below!

Design the business you want, but start with an exit strategy

Most virtual business owners, as well as those with brick and mortar, have a reason for starting their own business - freedom!

You are not alone if you started your business because you wanted freedom to:

• take days off at a whim;
• be with your children;
• care for a parent;
• be financially sound;
• travel and see the world; or
• be your own boss.

The list can go on, and on. Once you achieve that single, most important objective, then what?  Or, what if you're forced to abandon that dream because something in life has become more of a priority? Or because of "happenstance" - you know, the "stuff" that just throws you for a loop, like the market changing or loosing funding?

The answer to the above question depends on your exit strategy?  Planning the start up of your business with the end in mind, as well as an alternative, is prudent.  Here's what I mean:  If you develop a solid product, establish a lucrative service or become hugely famous, at some point you'll be faced with choices, options, and potentially, early retirement.  What happens to your legacy?  Who keeps things going in your stead?  What will your customers do without the niche you've carved into their lives?  It all depends on your exit strategy.

Solid exit strategies can include:

• Successors
• Partners
• Mergers
• Buyouts
• Closure

Training your replacement is smart.  Having someone on hand, BEFORE, they are needed allows you to have the options we discussed earlier.  Waiting until the need arises may limit your effectiveness as a leader.  For example, what if your business grows and now you have to focus on the vision, strategy or some other key component of the business and NOT be in the day to day operations of your business.  If you don't have a trained successor, the level of service could suffer and you could potentially lose the client base you once had.  If this happens, your bottom line is impacted -- your pocket -- and more importantly, your reputation.

Cloning yourself is smart too, because, believe it or not, a business is supposed to serve a singular purpose:  make you money so you can do what's really important in life--whatever you've defined that to be. 

Business owners consider partnerships when the combining of talents suits the overall strategic vision for the business, or when the market trends require a talent that you no longer possess or don't have.  Partners are smart when bringing them to the table offers a financial reward or a trade in talent that cannot be ignored.

Mergers are smart when the acquisition of the other companies talent, patent or market share threatens your existence.  The additional access to revenue or human capital may position you well for keeping your vision alive, while offering you an option to exit the business and still reap the rich rewards.

Buyouts may enable you to recoup your losses or cut the money train while there is still time.  This exit strategy may be smart when your other options are limited and the payout enables you to do what you've always wanted to or to reinvest in another venture that is more attractive.

Closing your doors, while being your last resort, may be your only one.  You know the feeling we've all had when we went to a store that has services us, for what seems to be an eternity, is no longer there.  We've all wondered 'what happened'.  Then, there is a sigh of relief when we hear "they retired to the Virgin Islands" - then we become green with envy wishing it were us instead.  On the flip side of the coin, we're saddened when we hear, "they just couldn't keep it afloat".  For the business owner, this is a smart option when you are sinking more time, money and energy that you actually have to give into a project that is an endless money pit.

So, what about you?  If you got sick today, how will your clients be impacted.  When do you plan to retire?  How?  Think and plan now for your exit strategy.  Keep your business afloat, even when you can't personally do the paddling.

If you have ideas that weren't explored here, please comment and tell us about it.

Resources for exit strategies:

Articles:  Exit Strategies for Your Business; The Four Ds of a Business Exit Strategy; Exit Strategies Resources and References

Choosing an online e-mail marketing provider

To date, for clients in my virtual assistance practice, I have used three online marketing/list services: 1ShoppingCart, Constant Contact, and iContact. I have also had a passing glance or brief exposure to AWeber and Volusion (shopping cart software). To a certain extent, I know my way around Constant Contact, and iContact (this does not make me an expert), but frankly, admit to struggling a bit with 1ShoppingCart.

Each e-mail marketing/shopping cart product just listed—and there are more than those!—has its own unique feature set, strengths, and weaknesses. As I said, I’m not an expert, but to my knowledge no one product “does it all”.

I’ve done a lot of investigation into 1ShoppingCart, and traded my share of support e-mails with them (which I think they’re very good at). My research and limited experiences tell me, for example, that 1ShoppingCart is more difficult to use, but is perhaps the best product for e-commerce, and is very good with autoresponders and e-mail marketing. If you don’t need the e-commerce component, AWeber probably comes out the winner, and is reportedly easier to use. Constant Contact does not have a ‘native’ shopping cart built into it (they have a shopping cart interface called ShopSite™), but they have recently added online survey capability. I used Constant Contact for a client when I first started my VA practice, to create and distribute newsletters and 'e-vites'. iContact is easy to use, in my opinion, comes with hundreds of templates, and is a less expensive than Constant Contact. Unlike Constant Contact, iContact’s survey feature comes with the base price. AWeber also has autoresponders (something that iContact and 1ShoppingCart have, but that Constant Contact lacks).

Regardless of where you’re approaching this from, I highly suggest that you do two things before you make a decision on which solution or system is right for you.

First, do your “due diligence”. Read through the features of each product offering to find out if they have what you need (or perhaps answer the needs you never knew you had). Second, if possible, get advice from someone who currently uses one or more of these products; I think the VA community is a great starting place for that!

Client references – do they work?

Okay maybe my header is flippant, and, I really understand that the “traditional” way of starting a new working relationship thrives on references from previous clients, employers etc, but I have really found that it absolutely makes no difference to a successful relationship.  I also feel that it just inconveniences my present clients for no tangible reason.

Now if I wanted a plumber to do some work in my house, and this plumber was not a member of a professional association I would definitely ask for references.  If the plumber was a member of a highly reputable association, maybe I wouldn’t ask for references.  I am more inclined to look to the association to have systems in place to give me piece of mind.  Now my husband is one of those people who would definitely ask for references, it makes him feel comfortable and I really get that.  As a VA, though I have found that my long-term, successful relationships are with clients that did not seek references, and many, but not all, of my short-term, unsuccessful relationships were with clients who did seek references. 

I agree that if a service professional is not a member of an organization that has an established training requirement, and member requirements that focus around performance, integrity and honesty, then a prospect has no choice but to request client references.  But if the professional has made sure that they are in good standing with a fantastic association, then I ask you, “Is the reference truly necessary?” 

I suspect the problem is that many prospective clients do not know exactly what information they need to get from a reference conversation, so why should I put my clients through this?  They have to find time in their day for these reference conversations, and thankfully they are very busy people.  I am loathed to ask them to do something that, personally, I think is done just for doing’s sake.

Fighting feelings of isolation

Since beginning my VA practice and establishing my home office, I knew I would need to develop plans to ensure I would not easily become overwhelmed with feelings of isolation.  I confess, I was quite diligent in those early months, and found ways to meet my need for interaction with others. It was working beautifully!

I enjoyed my monthly networking meetings, and made engagements with other business owners to meet at a nearby cafe' or enjoy lunch together.  I regularly visited hot spots and worked from my new local library branch. My first client was local, and we regularly met together, sometimes at her office. 

Additionally, during those earlier months, I was engaged full-time with caring for my elderly parents, and that ensured lots of time out at various doctor's offices and provided occasions to simply be 'out and about.'  Another helpful practice has been to engage a few favorite colleagues and regularly interact via chat and sometimes a phone conversation does the trick.  Staying connected with a couple of industry-specific communities and forums has been helpful as well.  Joining a local ladies' oriented fitness center was a good idea, too.

As life and business progressed, circumstances changed.  During this past year, I realize now that I've not been as diligent about this matter.  As a result, feelings of isolation have crept up.  It's been a struggle for me lately. 

I'm working on making some adjustments, and will follow through with my plan to "get out" on a regular basis. It's a good self-care practice, too, and definitely worth the effort.

I'd love to hear from those of you who, too, fight this fight.  New Ideas and perspectives are welcome!

Gut Check!

As defined by one dictionary, a gut check is a test or assessment of courage, character or determination. How well do you respond when your gut is checked by your business matters? We are not necessarily talking about problems per se. Different matters at different times will test our courage, character and determination.

Test of Courage:

Constantly we have to display courage as entrepreneurs. Have you had a client try to take advantage of you in any way? Gut Check! How did you respond? Did your level of courage increase or deflate? Perhaps a client has conveniently (for themselves) decided not to pay you.

You waited for the check to come in the mail or the credit card to process. Maybe you dreaded having a conversation about the matter and wished that it would ameliorate itself. Conversely, you may have called the client immediately and demanded that they stick to the agreed contract that you signed. Or maybe you had to take it further and have your lawyer contact them via letter or phone. Gut Check! How courageous are you in a situation like this?

Test of Character:

You made a mistake with a client, friend or family member. Gut Check! Do you sweep the problem under the rug and hope that no one notices your error? How do you respond when your honesty and credibility are called into question? Are you honest or do you cut corners. Gut Check! How do you wish to be remembered by clients, friends and family?  

Test of Determination:

If we could write our life story with complete control, we would probably eliminate all problems, bumps and bruises (I know I would). So, how do you respond when difficulties arise in business and in life? Gut Check! Are you stalwart in seeing your goals come to fruition no matter the challenges that need to be met? Determination is required for us as entrepreneurs.

Our life story will not be problem free. In fact, we may even face situations in our business that would have us looking for a J-O-B! It is imperative that you decide now to do whatever it takes to have a successful business. Just think about it, if your J-O-B were on the line, you would do whatever it takes to remain employed. Determination is needed in order to stay self-employed.

A gut check is a test or assessment of courage, character or determination. Running your own business is an experience that is riddled with gut checks. What will be your results of these many tests?

Mixing, mingling, and learning with my peers

It's coming up fast: the second annual edition of FoVA (the 2009 edition of the Forum on Virtual Assistance). The first conference was held in Toronto, Canada and this upcoming one will be held in very scenic Niagara Falls, beginning June 3, 2009.

I thought the first one was a feat in logistics, considering it's a conference of and for virtual assistants. Way to go Barb! In 2008, I was honoured to not only participate, but to sit on a panel of experts, and talk to the subject of education, training, and standards in our industry. This year's edition has expanded in terms of days held, half and full-day seminars, workshops, and social events. This year I'm presenting a 90-minute session on Windows Vista and Office 2007 tricks, short-cuts, and other fun stuff. But there's so much more happening than that! There are many other experts that will be there: you really should check it out! I'm thrilled that two of the people directly responsible for my virtual assistance training and mentoring will be there: can't wait to see you, Stacy and Dawn! And friends and colleagues I've talked to, corresponded with, or worked with (hey Pam, Barbara, Michelle and many others I know and admire) will be there too. Incredible. Incredibly inspiring!

Some may ask what value is a conference of and for virtual assistants (and I would add, associated colleagues and vendors)? Others may wonder why or how we can have a multi-day conference in such hard economic times. I would answer all such inquiries with two questions. One: is it wrong to to support your colleagues, friends, and industry? And two: what better time to spend [reads, invest] a little money than in bad economic times?

Right now, careers and businesses and lives are not in a 'business as usual' mode. We know this, and if you haven't been directly affected or impacted by it (I have been), you know someone who has. So if you're a virtual assistant, or directly associated with this field--and if you can afford to--right now is the perfect time to bolster the industry. Being part of a conference, contributing your energy and ideas, and pitching FoVA is a big way to bolster the industry. Whether or not you're able to attend our event this year, I urge you to take a serious look at it. Look at the commitment. Look at the people coming, and look at the talent.

Ours is an industry that holds onto its values, and that will not quit. We're growing. Come grow along with us...

When face-to-face doesn’t make a darn bit of difference!

Last week I spoke about my first face-to-face meeting with my client and how anxious I was and eventually how well it worked for our relationship.  When I was writing this article though, I also realized that face-to-face doesn’t always make a difference. 

First I have to make a confession.  I told something of a small fib last week.  Well I said that this meeting with Terry was my first client meeting, but I have had a face-to-face interview with a client, before she was a client.  I do not count this as the first time I met a client because she only ended up being a client for a month (one of those relationships that I learnt BIG lessons from).

A couple of years ago I filled out a referral request that came through from a UK client.  Now my interview process does not entail a face-to-face meeting, primarily because most of the people I interview with do not live in the same country as me.  Also I am busy and this takes up a lot of unnecessary time.  But this was not a standard or boundary, just a convenience.  So when this prospect suggested that we meet in person, I thought I would give it a try.  Tut, tut Petra, more thought should be taken before I say yes.   The day we were supposed to meet up I had a client emergency, but as this prospect was meeting in Central London and traveling about an hour to do so I felt obliged to make this interview – okay some stress, but not a great amount.  But then the trains was delayed, ya day a da, okay you see how the picture starts to deteriorate.  So I turned up at this meeting late, unhappily so, and somewhat harassed.  Okay now I can see why this is not the best option for me.